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Related: About this forum'Is this really happening right now?': A 10-year-old cashes in his GameStop shares
Inspired Life
Is this really happening right now?: A 10-year-old cashes in his GameStop shares
By Sydney Page
Jan. 30, 2021 at 6:00 a.m. EST
The GameStop stock surge has benefited small-scale investors, many of them surprised at their unlikely windfalls. Perhaps none so much as a 10-year-old boy from San Antonio.
The fifth-grader was gifted 10 GameStop shares, each at $6.19, as a Kwanzaa present from his mother in December 2019. She bought the stock simply because her son liked to buy video games at the store and she wanted to teach him a little about the stock market.
In a matter of minutes this week, Jaydyn Carr became an unexpected beneficiary of the market mayhem, as his $60 stake in the video game retailer grew to $3,200. ... Is this really happening right now? Jaydyns mother, Nina Carr, remembers asking herself. I couldnt believe it was true.
[What you need to know about GameStops stock price chaos]
Carr, 31, was working in her home office on Wednesday when a slew of news alerts about GameStops Reddit-spurred surge started appearing on her phone. Her jaw dropped.
{snip}
Have a story for Inspired Life? Heres how to submit.
Is this really happening right now?: A 10-year-old cashes in his GameStop shares
By Sydney Page
Jan. 30, 2021 at 6:00 a.m. EST
The GameStop stock surge has benefited small-scale investors, many of them surprised at their unlikely windfalls. Perhaps none so much as a 10-year-old boy from San Antonio.
The fifth-grader was gifted 10 GameStop shares, each at $6.19, as a Kwanzaa present from his mother in December 2019. She bought the stock simply because her son liked to buy video games at the store and she wanted to teach him a little about the stock market.
In a matter of minutes this week, Jaydyn Carr became an unexpected beneficiary of the market mayhem, as his $60 stake in the video game retailer grew to $3,200. ... Is this really happening right now? Jaydyns mother, Nina Carr, remembers asking herself. I couldnt believe it was true.
[What you need to know about GameStops stock price chaos]
Carr, 31, was working in her home office on Wednesday when a slew of news alerts about GameStops Reddit-spurred surge started appearing on her phone. Her jaw dropped.
{snip}
Have a story for Inspired Life? Heres how to submit.
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'Is this really happening right now?': A 10-year-old cashes in his GameStop shares (Original Post)
mahatmakanejeeves
Feb 2021
OP
A trader can make the gamble a lot safer with the right experience and education.
flamin lib
Feb 2021
#5
unblock
(52,317 posts)1. Sadly, this is the sort of lesson that costs a kid thousands in later life
Great for the kid now, but "stocks can produce quick jackpots" is a lesson that can lead to very poor investment decisions later on....
Ferrets are Cool
(21,110 posts)3. The stock market is just gambling.
We give people our money so they can gamble with it.
flamin lib
(14,559 posts)5. A trader can make the gamble a lot safer with the right experience and education.
Losing a butt load of cash is the first lesson. After that foolishness following the herd mentality without understanding the basic fundamentals of a stock sinks in. Then the much longer lesson of finding out what the fundamentals are and what they mean begins.
Even at that there is an element of risk in any trade as companies are subject to the same vagaries of life as we all are.
Ferrets are Cool
(21,110 posts)2. Is anyone able to sell it at this inflated price?
Or is it just implied wealth? I honestly do not know.
flamin lib
(14,559 posts)6. Well, yeah. Most people who follow the herd without having a clue about why the herd is going
head long for that cliff will, well, follow the herd.
3Hotdogs
(12,406 posts)4. No. It was reported a couple of days ago. If he sold then, he made the profit.
If he waited, not so much.